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News

The Greater Manchester Export Fund (GMEF) has supported fintech business Delio Ltd with a £250k loan that has enabled them to launch a new office in Manchester, with the first additions to the team now in place and a planned move to the new XYZ building in Spinningfields in September to expand and grow the team by creating a further 20 new posts.

Delivered by Business Finance Solutions, Business Growth Hub and the Department for International Trade (DIT) which are all part of The Growth Company, the GMEF provides access to a wide range of International trade support for both new and existing exporters along with access to loan funding to enable local businesses to secure and grow export contracts all over the world.

Delio helps financial institutions connect private asset investments with high net worth capital through interlinked white-label platforms. Delio has already built an impressive client list and now works with a wide range of organisations such as ING, UK Business Angels Association and Align17; an impact investment project in collaboration with institutions such as UBS, PwC and Hamilton Lane.

Their diverse client base now also extends across governments, family offices, corporate finance advisors and wealth managers, who use Delio to build propositions across private equity, private debt and real estate, leveraging Delio’s software to deal with the compliance, distribution and scalability challenges of connecting high net worth clients and private investments as well broadening their network to share and syndicate deal flow across institutions.

Delio currently has offices in Cardiff, London and Brussels and the Export Fund loan has enabled the company to build a significant presence in Manchester to help better to serve their international clients and which will play a key role in expanding its client base across Europe, Australia, Asia and the Middle East.

Delio Co-Founder David Newman said: “Currently 50% of Delio’s income comes from export sales; we only see this growing and the support available from the Export Fund will play a key role in helping achieve this.”

Delio CEO Gareth Lewis added: “The combination of the support from the Export Fund as well as the deep fintech talent pool in Manchester and easy connectivity to our key international markets meant that Manchester was the obvious and preferred location for us to grow our internationally focused team.”

Andy Nichols, Senior Loan Manager at BFS, says: “Delio is a fantastic example of the fast-growth, ambitious business that the Export Fund was created to help. They have already secured an impressive client base, many of whom they are now working with to build international partnerships and opportunities. Their new Manchester office has already delivered high quality jobs in the region and will play a big part in confirming GM as a digital centre and a recognised hub for fintech businesses.”

The GM Export Fund was open from November 2015 to May 2017 to small or medium enterprises located in Greater Manchester. BFS will continue to support any business requiring export finance as the existing Export Loan Fund is a revolving fund to provide support to Greater Manchester businesses over the next ten years. Businesses looking for fully-funded growth support should search the Greater Manchester Business Growth Hub. Those seeking further loan advice can contact BFS on 0161 245 4977 or Info@b-f-s.org.uk.

GC Business Finance is a trading name of The Enterprise Fund Limited (TEF), company number: 04460763, authorised and regulated by the Financial Conduct Authority (FCA), FRN: 727252. TEF is a subsidiary of The Growth Company Limited. TEF also operates through a subsidiary, BFS Funding Managers Ltd (FCA), FRN: 608682, acting as joint manager of the NPIF NW Microfinance Fund.